Well, to the OP's question.... Is a $100 mic as good as a $1000 mic?
My take on this:
A few years ago (2009) I was at a songwriter's convention where there were a number of vendors set up. One such vendor was a company called Gauge Microphones.
http://www.gauge-usa.com/Gauge_Microphones/Home.htmlThey had their mics set up side by side with mics that were 10x as costly. You could try the mics side by side to compare. I heard no appreciable difference. On their web site they have the same side by side comparison in the form of audio clips of the same instrument or vocal recorded.
So while some very expensive mics do have certain characteristics, many less expensive mics can and do hold their own very well against them.
There is no need for a home recordists to spend thousands on a mic when a mic which sounds nearly the same is much less expensive. That money is better spent on other things that DO make a substantial difference in the studio sound.
Just my 2 cents.
Note: I had just spent $400 on a Rode NT-2A a few weeks before I heard the Gauge mics. Had I known about Gauge, I would now be an owner of a Gauge and not the Rode. I'm happy with the Rode, but I could have saved a few hundred on the Gauge and had the same quality sound.